And the guy is out talking s*** in Iowa!
Pffffffftttt!
"Foreclosure rescue faces veto by Bush; $4b bailout is opposed" by Associated Press | June 20, 2008
WASHINGTON - A broad bipartisan coalition supporting a massive foreclosure rescue beat back GOP efforts to gut it yesterday, defying a White House veto threat and quashing a bid to make it a victim of revelations about two senators' VIP mortgages.
Administration officials said they oppose the inclusion of $4 billion in the measure to help states buy and rehabilitate foreclosed properties, and a plan to have government-sponsored mortgage giants Fannie Mae and Freddie Mac pay for the rescue....
The election-year bill, which could help hundreds of thousands of struggling homeowners, appeared to be drawing wide bipartisan backing.
I don't know about you, but I'm sick of the NEGLECT as TRILLIONS and BILLIONS go out the DOOR!!!!
If it doesn't stop soon, real soon, it's TAR and FEATHER TIME!!
You with us, 'murkn people?! You with us?!!
Hey, you wi... (sounds of public sucking down s***)
The Senate overwhelmingly defeated two amendments by Senator Christopher S. Bond, a Missouri Republican, that would have derailed the measure. Both failed on margins large enough to override a promised veto, suggesting the plan could survive a showdown with President Bush.
Dodd and Senator Richard C. Shelby of Alabama, the senior banking panel Republican, said the veto threat was "disappointing," given their compromise plan includes several elements Bush has demanded, and said they hoped the White House would reconsider.
Michael Ortiz, a spokesman for Democratic presidential candidate Barack Obama, said, "It's baffling why the White House would oppose a bill that would help so many American families at risk of losing their homes on the same day hundreds of mortgage fraud arrests were announced."Not to me it isn't. There is simply NOTHING this government wants to give back to its people.
After all, they are talking about TAXPAYER DOLLARS, aren't they?!
No, that needs to be shoveled to corporate cronies and war-profiteers!!!!
Meanwhile, if you can hold that house, your rates just went up:
"WASHINGTON - Rates on 30-year mortgages kept surging this week, rising to the highest level in nearly nine months, reflecting more concerns about what the Federal Reserve will do to combat a growing inflation threat.... From last September through April, the central bank aggressively cut rates to try to keep the economy from falling into a recession, but now the Fed's focus has shifted to worries about inflation."
Is it just me, or does anyone else look at the Fed like a beached whale flapping around on all flippers?
Either that or a shark on a mission (which is more likely; remember, corporate press doesn't want us to understand this is a planned strategy).
They fix(?) one problem and cause another?
If this is the economic system, it needs to go.
Oh, and the declining dollar is always minimized. I've noticed that, too!
But as reported yesterday, the Fed and the government are going to make sure the banks are all taken care of...
"Plan for banks to access Fed loans in works"" by Bloomberg News | June 20, 2008
WASHINGTON - US regulators are planning how to let investment banks retain access to Federal Reserve loans if the central bank shuts an emergency program in September, two government officials said.
Federal Reserve chairman Ben S. Bernanke, Treasury Secretary Henry Paulson, and Securities and Exchange Commission chairman Christopher Cox and their staffs are in almost daily discussions about the so-called Primary Dealer Credit Facility, said one of the officials on condition of anonymity.
The Treasury and SEC want the program, designed to be in place until at least September, to be temporary. The discussions with the Fed center in part on what precautions might need to be in place in case a large securities company with hundreds of trading counterparties faces failure, as was the case with Bear Sterns Cos.
However, any new rules would need to deter firms from becoming too dependent on Fed loans, addressing concerns that such aid might lead to more reckless lending and financial crises.
Paulson said yesterday it's "imperative that market participants not have the expectations that lending from the Fed is readily available.
"We must limit the perception that some institutions are either too big or too interconnected to fail," Paulson added. "If we are to do that credibly, we must address the reality that some are."Translation: We LIE to YOU!!!
Paulson admits it! It's ALL in the PERCEPTION!!!!
Yes, just like this whole s*** sheet I bought today!!!!
PUSHING a CERTAIN PERCEPTION of the WORLD -- and PUSHING an AGENDA!!!!!!!
